Taiwan to Cap Oil-Price Rises and Doesn’t See Power Shortages

Taiwan has set a weekly cap on oil-price increases as it seeks to cushion the economy from the impact of the Middle East war, according to the Commercial Times.

The Taipei-based newspaper reported the limit on Monday, citing Premier Cho Jung-tai and unidentified officials. Cho had previously told reporters on Sunday that the government had activated a price-stabilization mechanism to absorb oil price increases. That came after the Ministry of Economic Affairs said the day before that domestic fuel prices would only rise about 5% this week.